Yoon's Father-in-Law Sent Business Partner to Prison and Earned 9 Billion Won... Opposition Party Calls It "False Data"

[Image source=Yonhap News]

[Asia Economy Reporter Kang Nahum] The Democratic Party's campaign task force (TF) on current issues claimed on the 28th that Choi, the mother-in-law of the People Power Party's presidential candidate Yoon Seok-yeol, sent her business partner Ahn to prison during the buying and selling process of 160,000 pyeong of land in Dochon-dong, Jungwon-gu, Seongnam City, and pocketed 9 billion won in profits including Ahn's share.

The TF announced that after analyzing the 1-year prison sentence ruling for Choi's violation of the Real Name Real Estate Act and the 2017 Supreme Court final ruling on Ahn's fraud charges, "It was confirmed that Choi and another business partner excluded Ahn from the business and took 9 billion won worth of resale profits from the 160,000 pyeong real estate in Seongnam City."

The TF explained that Choi had a falling out with Ahn and others after purchasing the Dochon-dong land together, and when Ahn tried to dispose of the land, Choi intervened to prevent the sales contract from being executed.

Later, when Ahn could no longer afford the loan interest he received upon purchasing the land, Choi used this to accuse Ahn of fraud and other charges, sending him to prison, and during this time, Choi acquired all of Ahn's share of the land through her family company ESI&D, the TF pointed out.

The TF stated, "In November 2016, Choi sold the 160,000 pyeong real estate, including Ahn's share, for 13 billion won, and considering the purchase price of 4 billion won recorded in the ruling, she made a resale profit of 9 billion won."

It added, "Considering that the initial deposit paid by Choi was about 300 million won, and that most of the remaining purchase price appears to have been procured from a minus account of 4.8 billion won at ShinAn Savings Bank, she achieved a profit rate of as much as 3,000%."

The TF also explained that Ahn was acquitted of all fraud charges by the Supreme Court in 2017.

The People Power Party immediately rebutted the claims as a "false press release." Spokesperson Choi Ji-hyun stated in a position paper, "The court ruling clearly identifies Choi as the victim," and "Ahn, who was convicted by the court for fraud, paid the price for his crime; it is obvious to anyone that Choi did not send him to prison."

He added, "Ahn deceived Choi to borrow the contract deposit for the Dochon-dong land. Choi still suffers significant losses because of this. The 9 billion won real estate profit is also an absurdly miscalculated amount," and rebutted, "Because of clumsy assumptions and malicious interpretations, all facts including the real estate value become false."

This content was produced with the assistance of AI translation services.